Fitch rates Shri Pariyur Amman Kraft

Fitch Ratings said it assigned Shri Pariyur Amman Kraft Papers Pvt. Ltd. a national long-term rating of B-(ind), along with a B-(ind) rating on its proposed term loan amounting to Rs. 47.5 million.

The outlook is stable.

The ratings incorporate the larger scale of its proposed venture of setting up a Kraft paper manufacturing unit, compared to that of its promoters' current business in corrugated packaging and paper cones manufacturing, Fitch said.

The ratings also consider the significant project execution risk that exists, the agency said, and the management's new challenge of managing the commodity nature of this business.

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